Ford posts $2.3 billion profit
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- bansheewail
- added this
http://online.wsj.com/article/SB124834005025175293.html#mod=testMod
DETROIT -- Ford Motor Co. returned to profitability in its second quarter and slowed its cash burn amid speculation that it may issue more equity to reduce its debt.The auto maker reported a net income of $2.3 billion or 69 cents a share, compared with a loss of $8.67 billion, or $3.89 a share, for the same period a year earlier. The company burned through about $1 billion in cash during the quarter as it controlled incentive spending around ...
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- News, US Economy, Cars
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- tags:
- News and Politics, US News, US Politics, Cars, 5 more
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spanky07
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I Bet Ya They didn't get rid of those corporate jets and corporate million dollar paychecks.
- 7 months ago
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spanky07
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mark1957
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spanky07:
Who cares what they do as long as WE don't have to pay for them to exsist. If they make a profit , good for them. What most of you don't understand without profit they can not continue. Equipment breaks, designs change and on and on... Profit is not a bad thing. Get a grip. The company you work for has to make a profit to survive. If it's a non profit then it needs donations to survive. ( Someone elses profit.)
- 7 months ago
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mark1957
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NumLock [removed]
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NumLock [removed]
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devo64
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NumLock:
Ford is actually the only car company to decline any government bailout funds. Surprisingly enough their market shares have been steadily going up for the last few months.
- 7 months ago
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devo64
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davidajm
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Where's my check?
- 7 months ago
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davidajm
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nursediesel
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Ford been doing real well over seas for years now!
- 7 months ago
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nursediesel
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clownpuncher
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making money to distribute the wealth....booya baby
- 7 months ago
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clownpuncher
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moulicohen
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Maybe with these profits Ford will be able to further develop some initial hybrid and fully electric models. At the very least they should be looking into how to further dominate the U.S. auto market with smaller, better mileage vehicles. G.M. and Chrysler should obviously taking notes. www.scribd.com/moulicohen
- 7 months ago
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moulicohen
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diabolical44
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GM makes a much better automobile than Ford.
- 7 months ago
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diabolical44
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nursediesel
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diabolical44:
That's debatable.
- 7 months ago
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nursediesel
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bailey78
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So they must have gotten a 3.5 billion dollar loan from the goverment and this is all they are showing on the books.
- 7 months ago
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bailey78
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nursediesel
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You'd be wrong. I know many that won't buy from the bailout bunch.
- 7 months ago
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nursediesel
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csmonut
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nursediesel:
I'll never buy another GM product. One was enough....craftmanship is null.
- 7 months ago
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csmonut
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bansheewail
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I don't think the anti-socialism, ultra-conservative car buyers out there care about the intricacies of the Automakers Bailout.
- 7 months ago
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bansheewail
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mark1957
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bansheewail:
I think you'd be mistaken. My next vehicle will be a Ford, not a GM or Chrysler. I even went so far as to ask my home town bank if they took bailout money. Some of us care.
- 7 months ago
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mark1957
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nursediesel
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bansheewail:
Yep, my bank is bailout free, also.
- 7 months ago
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nursediesel
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nursediesel
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My understanding is they have restructured the company selling off some of their other companies and maybe sold some more stock.
There are people that go into a company and clean out the excess and dead wood, rebuilding the company to minimize losses and streamline production as well as increase profits.
I personally know someone that has done this all over the world. It works.
Gee, wouldn't it be great to get him to do this for the federal government? Wow, think of the possibilities! - 7 months ago
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nursediesel
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current89
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nursediesel:
"My understanding is they have restructured the company selling off some of their other companies and maybe sold some more stock. "
Yeah and it worked well, thats why the US had GM do the same(because they didn't want to get rid of their low performing sectors.
- 7 months ago
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current89
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mark1957
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nursediesel:
current89, Ford mortgaged just about everything in order to save their company 2 to 3 years ago. The difference between Ford and the other two is that they did their own house keeping. WE, as in the people of the United States don't own one drop of Ford. Between Canada and the States it's 77% ownership. GM owns 10% of it's own company.
- 7 months ago
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mark1957
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nursediesel
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nursediesel:
Way ta go, mark, go info!
- 7 months ago
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nursediesel
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nursediesel
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nursediesel:
Way ta go,mark, great info.
- 7 months ago
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nursediesel
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nursediesel
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nursediesel:
way ta,go,mark, good info,
- 7 months ago
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nursediesel
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nursediesel
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GM, Chrysler and Ford are the big US car manufacturers. Everyone took BAILOUT money BUT FORD so loyal American citizens decided not to buy any of the Bailout cars, and when buying a new car buy Ford!
Maybe that's what happened? - 7 months ago
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nursediesel
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jh64487
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nursediesel:
maybe, but I somehow doubt some sort of patriotism was behind it.
this is a country where we still allow the patriot act to messily dismember the constitution.
- 7 months ago
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jh64487
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nursediesel
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nursediesel:
Good point!
- 7 months ago
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nursediesel
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magnusdeus
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nursediesel:
Ford didn't take bailout money because they didn't need it. They didn't declare bankruptcy either. I think it's probably because they've been working on redesigning their line for a while now and GM's just recently trying to catch up.
- 7 months ago
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magnusdeus
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Gravity_Man
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nursediesel:
I owe Ford money, so if I buy something or wanted to they would want $3,000 cash up front. I don't have it. So if I wanted to take advantage of the Clunker Program I would be forced to go to Chrysler. Over there they're offering to match the $4,500 clunker from the Gov, for $9,000.
Also, Ford wouldn't give me $125.00 for my 1977 Ford Maverick. Which would YOU choose? Stay "loyal" and lose $9,000 (NINE THOUSAND DOLLARS)??? Sorry y'all, Ford abused me as a customer. I called them numerous times and they shuck and jived me from one phone extension to another one day til I talked to at least 7-8 people.
They're sitting on a pedestal hoping you chumps buy from them. A man can tell when a company from the salesman to the headquarters janitor staff is laughing at him. But you better bet money when the dust settles they'll start calling me again. I tried to suggest to them they roll over my debt on another car because the one they sold me the engine blew 2 months later, so they sold me a defective automobile.
They refused to work with me, preferring to hammer me into the ground with bill collectors. So if I buy something it will have to be from Chrysler.
- 7 months ago
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Gravity_Man
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mark1957
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nursediesel:
Gravity man. So that I understand you. You are willing to take money from your neighbor ( basicly, steal) to buy a car, and you're not willing to pay off the debt you have signed for. Unbelievable. Where do you think the money is comong from to "give" you this rebate? Go next door and ask your neighbor for $4500 dollars and watch him laugh you out of his yard. This rebate is a form of stealing from your neighbor. Congress just made it legal, that's all. It's still stealing. Have some pride.
- 7 months ago
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mark1957
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Gravity_Man
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nursediesel:
Mark1957, you have insulted yourself with all those comments. I didn't say I was "willing to" do any such thing. #1, it's the position FORD forced me into because their high hog mentality towards me when they refused to work with me for a car that the engine didn't break down 1-2 months after I bought it.
#2, when you're fully disability "willing to" do anything doesn't factor in as much as you think. Which is why => #3, I'm keeping my old clunker and keeping it running and neither one is getting any more of my business even if the next car I have I have to build the damn thing from the ground up... because ain't none of building car's correctly anyway.
I have enough knowledge of power plants, transmission and differential gearing to know they can TRIPLE GAS MILEAGE right now without breaking a sweat. So unlike you, I refuse to ever be raped on a car lot parking lot ever again.
So yes, as a matter of fact I do have pride.
- 7 months ago
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Gravity_Man
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mark1957
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nursediesel:
Gravity, I've never been raped by the dealer. In fact most times they have been more than fair. I stand by my coments. The best of luck to you getting the mileage you seek.
- 7 months ago
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mark1957
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Gravity_Man
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nursediesel:
hehehehe let em burn to the ground. Before they take all your money out of your pockets preferably.
- 7 months ago
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Gravity_Man
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nursediesel
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nursediesel:
You've never car shopped with my husband. He goes to all of them, and I mean all the dealers within a twenyty mile radius till he gets the car he wants at the price he'll pay.
But once a ford dealer screwed us by undercoating the car and charging us for it when we clearly said we did not want it.
We went to another ford dealer and they put out a description for a similar car and they got the same car shipped to them and we got the exact car for less money.
You can't take their BS cause they need buyers to stay in business. - 7 months ago
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nursediesel
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eden49
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Hey, "B"...I admit I'm a clutz when it comes to anything financial, BUT if yu post a loss of $8.67 bill...how can you call anything a profit the following fiscal yr...aren't you still in the red?
- 7 months ago
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eden49
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clownpuncher
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eden49:
Lets just say B does not get out much
- 7 months ago
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clownpuncher
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eden49
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eden49:
well, I don't either CP...just realised my mistake...obviously recouped red, and 2. thingy over showing as profit...boy oh boy "Banshe..."...your posts have been terrif...(ducking from CP)...
- 7 months ago
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eden49
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bansheewail
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Things are looking up!
- 7 months ago
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bansheewail
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CalPerr
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bansheewail:
ROBO-COP!! SAVE US
damn apocalypse
- 7 months ago
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CalPerr
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magnusdeus
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bansheewail:
@Mafia:
Detroit is the biggest manufacturing center in one of the biggest manufacturing states in one of the worst manufacturing downturns in the nation's history. When you build a city around an industry and it fails the city will obviously fail. Implying that the rest of the country should expect conditions like those of Detroit is much too simplistic.
- 7 months ago
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magnusdeus
